Contents tagged with SWIFT

  • Financial system SWIFT will provide discount to Russian banks

    Russian newspaper Vedomosti has reported that Russia will receive a discount on the transfer of financial messages beginning in 2018, citing SWIFT Director for Central and Eastern Europe Matvei Gering. According to Gering, the discount will apply to financial message transfers between Russian organizations.

    The newspaper notes that SWIFT operations within the country accounted for 72.5% of all operations by Russian users in the international system, according to data from 2016.

    Vedemosti's …

  • Main Crimean bank may lose access to SWIFT payment system due to loss of its software license

    The British company Finastra, which produces software that allows banks to access SWIFT (Society for World Interbank Financial Telecommunication) system, discovered that one of its clients was the Russian National Commercial Bank (RNCB) operating in the Crimea and decided to stop this cooperation.

    According to Russian Vedomosti newspaper, the bank can switch to another interface for accessing SWIFT, but if it does not manage to do this before August 31 when the license for the Finastra …